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International endogenous growth, macro anomalies, and asset prices
Grüning, Patrick - 2015 - This version: January 22, 2015
This paper studies a two-country production economy with complete and frictionless financial markets and international trade of final goods in which competition in R&D leads to endogenous new firm creation and economic growth. Current monopolists ("incumbents") and potential new firms...
Persistent link: https://www.econbiz.de/10010468546
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Stimulating long-term growth and welfare in the U.S.
Malley, James R.; Philippopulos, Apostolēs - 2023
We develop an endogenous growth model to quantify how permanent structural policy changes that enhance the fiscal policy mix, markets' functioning, and public institutions' quality affect long-term growth and welfare. The reforms include increased public investment, reduced market power through...
Persistent link: https://www.econbiz.de/10014364961
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On the optimal labor income share
Growiec, Jakub; McAdam, Peter; Mućk, Jakub - 2018
Labor's share of income has attracted interest in recent years reflecting its apparent decline. These falls, witnessed across many countries, are usually deemed undesirable. Any such assertion, however, begs the question of what is the socially optimal labor share. We address this question using...
Persistent link: https://www.econbiz.de/10011916846
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The impact of government procurement composition on private R&D activities
Slavtchev, Viktor; Wiederhold, Simon - 2011
This paper addresses the question of whether government procurement can work as a de facto innovation policy tool. We develop an endogenous growth model with quality-improving in-novation that incorporates industries with heterogeneous innovation sizes. Government de-mand in high-tech industries...
Persistent link: https://www.econbiz.de/10010286456
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Population, pensions, and endogenous economic growth
Heer, Burkhard; Irmen, Andreas - 2008 - This Version: November 16, 2008
We study the effect of a declining labor force on the incentives to engage in labor-saving technical change and ask how this effect is influenced by institutional characteristics of the pension scheme. When labor is scarcer it becomes more expensive and innovation investments that increase labor...
Persistent link: https://www.econbiz.de/10003779148
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Distribution, aggregate demand and productivity growth : theory and empirical results for six OECD countries based on a post-Kaleckian model
Hein, Eckhard; Tarassow, Artur - 2008
Empirical research based on the Bhaduri/Marglin-variant of the Kaleckian model has recently shown that aggregate demand in many medium-sized and large open economies tends to be wage-led in the medium to long run, even in a period of increasing globalisation. In this paper we extend this type of...
Persistent link: https://www.econbiz.de/10003772369
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Population, pensions, and endogenous economic growth
Heer, Burkhard (contributor); Irmen, Andreas (contributor) - 2008
We study the effect of a declining labor force on the incentives to engage in labor-saving technical change and ask how this effect is influenced by institutional characteristics of the pension scheme. When labor is scarcer it becomes more expensive and innovation investments that increase labor...
Persistent link: https://www.econbiz.de/10003791799
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The macroeconomics of TANSTAAFL
Grossmann, Volker; Steger, Thomas M.; Trimborn, Timo - 2011
This paper shows that dynamic inefficiency can occur in dynamic general equilibrium models with fully optimizing, infinitely-lived households even in a situation with underinvestment. We identify necessary conditions for such a possibility and illustrate it in a standard R&D-based growth model....
Persistent link: https://www.econbiz.de/10009380412
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Dynamic selection and the new gains from trade with heterogeneous firms
Sampson, Thomas - 2013
becomes tougher. By raising the profits of exporters, trade increases the entry rate and generates a dynamic selection effect … trade raises growth through selection, not scale effects, the positive growth effect of trade vanishes when firms are … implies that dynamic selection approximately triples the gains from trade. …
Persistent link: https://www.econbiz.de/10011374302
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Trade, productivity, and semi-endogenous growth
Bauer, Christian - 2008
the reallocation of resources and the selection of firms following trade liberalization continue to hold. We show, however …
Persistent link: https://www.econbiz.de/10009746794